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Criteria for choosing Armenia.

Business start up speed.

To register a company (or individual entrepreneur) in Armenia, it is enough to make a social card. The process of registration - from 2 days to a week. It will be faster if you enter the country with a foreign passport (it is possible to enter with an internal Russian passport).

Next, documents are submitted for the opening of the company. The registration process (with a standard charter) takes 10-15 minutes. For citizens of other states, the process of opening a company or individual entrepreneur also does not take much time (perhaps 1-2 weeks).

Features of stay in the country.

Citizens of the Russian Federation can stay legally for 180 days. Citizens of Ukraine - 90 days. During this period, it is enough to cross the border with Georgia once to stay in the country legally in the country.

However, the presence of a residence permit eliminates this need. Registration is issued within a week.

Taxation.

A bank account can be opened in several currencies - there are no restrictions on this. There are also no restrictions on the transfer of funds between other countries. International transfers are not carried out instantly - 1-2 banking days.

The Armenian banking system has a peculiarity in the execution of payment orders. But it will remain invisible if this is done by an outsourced company.

It is convenient that the country has simple cash transactions - you can simply withdraw from an ATM and transfer to the cashier and vice versa. And it is also easy to credit cash to employees' accounts if necessary.

In the terminals, you can top up any bank accounts and cards (if there is a number) in cash without identification. At the very beginning, you need to apply for preferential taxation.

For IT companies until the end of 2022, the following system applies:

10% personal income tax (employee salaries);

0% income tax for the sale of IT products and services outside of Armenia;

5% tax on the extraction of dividends.

For IP in this area:

0% tax on dividends;

0% income tax for the sale of IT products and services outside of Armenia;

20 income tax and social tax.

Quality of life, low cost of rent.

We recommend that you get an idea of ​​the cost of living from the following parameters close to real practice (it can be cheaper, but it can be more expensive, depending on the lifestyle).

Housing rental: a two-room apartment with a good repair in the center will cost about $550. Deposit — 100% of the rental price. Usually goes as payment for the last month of living. Broker services - 50% of the rent. However, you can rent directly from the owner.

Office rent - from $10 per square meter.

Vaccination in Armenia is free.

Adaptation.

In Armenia, social and cultural adaptation for citizens of the CIS is relatively easy. This is a Russian speaking country. The local population is open and friendly to guests. Young and interesting Russian-speaking communities are being formed.

Air communication with many countries is well organized. If you have a resident card (you can get it in a month), it is possible to apply for visas to the Schengen countries and the USA in a general manner.

Banks are switching to Russian SPFS.

Accordingly, transactions with Russia will pass without problems.

Support and creation of conditions for business relocation.

Banks are launching online processing. At airports, concessions are being made to make it easier for people to cross the border. In Armenia, for a long time there will be a trend towards improving conditions, and not towards tightening them.

The procedure for those who now want to open in Armenia.

1. Find out reliable information.

In particular, the Ministry of Economy of Armenia has set up a working group to help with relocation. A special headquarters of Enterprise Armenia has been created in the country, where you should send an application in the form to the email address reloc@mineconomy.am and formulate your request. In addition, there are many private consultants and companies.

2. Fly yourself to start the process of opening a legal entity.

Now, due to sanctions, the number of flights (especially direct flights) is rapidly declining, so it is important to be on time.

You can also open an online account. When sending documents using the postal service, it is possible to work remotely with the opening of a legal entity. The process of opening an account through SWIFT is being worked out right now in real time for specific needs.

3. Apply with a notarized translation of the passport to Gosregister.

By the way, you can not only go to the central one at Komitas 57, there are many other smaller branches where you can get standard samples of charters and documents.

I advise you to get in line in advance through the EarlyOne app, because the live lines stretch for more than 100 people. It is better to speed up the process through electronic coupons.

By the way, IP can also be opened through the post office, but here you need to clarify directly at the post office.

4. Submit an application for opening an account.

20 minutes after submitting the application, you already have a legal entity open. With this, you can already go to the bank and send an application for opening an account.

In general, it will take 2-3 days for both legal entities and individuals. If you are a citizen of the Russian Federation, then you do not need to have a work permit or a social number to open a legal entity.

As soon as the account is opened, you can safely start running your business. In the process of opening a legal entity, you can connect a back office to outsourcing. Such services cost from $50 to $150 per month for the maintenance of the company.

5. Find housing (if needed) and rental space.

I recommend finding partners who know real estate prices. Now the market is crowded, both housing and real estate in general. Prices are on the rise. But you can always find the right price.

I advise you to pay attention to the banali.am service. The owners promise that it will be free for individuals in the next 2 months. They have databases of housing from owners, no brokers, no commissions. Moreover, for their services during this period, they promised not to take money to help people who now need support.